ADNAAN AHMAD, The Maverick.

honesty, integrity and independence.

The whole investment picture

AA Research stands for honesty, integrity and independence. Here you will see the whole investment picture. Not the glossy rhetoric of company management or the benign research emanating from the corporate friendly and conflicted sell-side.

With nearly 20 years of experience in technology equity research and numerous financial cycles, the clear goal is always to provide investors with an independent view of global technology stocks in a market context. Structural shifts are highlighted where new entrants emerge and fundamentals are analysed on whether legacy companies are able to effectively counteract this new threat.

Controversial views

The sell-side tends to be inhabited and strongly incentivised by analysts keen to cosy up to management teams in search of ‘non-deal’ roadshows or the next round of capital raising. Consequently, much of the ‘sell-side’ is too short term and maintenance-oriented in their focus.

As a wholly independent service, AA Research is known for not shying away from controversial views. Where it is believed to be necessary, the aim is to highlight anti-consensual stock calls, which are based on structural dynamics and/or when stocks have become mispriced.

High level, tech-strategy

The mission is to create a partnership with the investment community and act as a “sounding board” for technology investments to highlight where it is believed the sell-side is incorrect or mistaken.

Current sell-side research is increasingly driven by corporate access and banking due to the shrinking pot of commission income. With the onset of MIFID2 in Europe, the need for differentiated research, which adds value to an investment decision is becoming increasingly important.

As the “antithesis” to sell-side research, thought process and viewpoint can range from high level, tech-strategy to individual and fundamental stock analysis.